New NGO road map points the way to a more transparent EIB

Published on IFIwatchnet, by CEE Bankwatch and Client Earth, November 9, 2009. – Linked on our blogs with CEE Bankwatch,and with Client Earth (appearing on Dec. 7).

In parallel to a second round of consultations on the European Investment Bank’s EIB Transparency Policy, Bankwatch together with the NGO Client Earth announced today the publication of a model transparency policy for the EIB that would set the bank on much more assured ground towards becoming an open and inclusive institution.

The aim of the new model policy is to, within the framework of EU legislation, give the public access to information on the functioning of the EIB and its operations both inside and outside the EU. 

According to Anna Roggenbuck, Bankwatch’s EIB coordinator: “At a time when there’s high public concern about and political will for increasing the transparency of international finance, with this model policy we aim to overcome the biggest deficiency in the current EIB policy, namely providing the public with access to and timely disclosure of environmental information about the projects it finances. Based on the procedures and practices of the Council of the EU, we are also proposing solutions for better transparency of the EIB’s own governing bodies.”

The model policy has at its core a ‘presumption of information disclosure’, in line with the concept of making the EU more accessible to people, and where decisions are taken as openly as possible. The model policy is based on previous EIB disclosure policies as well as different provisions that provide information to citizens from different EU bodies … (full text).

Links: EIB’s Homepage; EIB on wikipedia; CEE Bankwatch; Client Earth.

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